POS Integration coupled with exclusive data license key to delivering unprecedented measurement and analysis of the Canadian Beverage Alcohol and Cannabis Industries
VANCOUVER, B.C. , Aug. 10, 2022 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, today announced the signing of a 3-year exclusive data license with Barnet Technologies enabling access to all point of sale and transactional data from Barnet POS (point of sale) systems. The company will generate revenue by way of selling quarterly and annual data licenses to various industry stakeholders through the FDX - Fobi Data Exchange.
Exclusive Data License Secures Two Key Canadian Independent Liquor Retail Markets In B.C and Alberta and provides value for retailers, brands & 3rd party data aggregators
Barnet Technologies is one of the leading POS vendors in Western Canada for liquor and other regulated industries, with over 50% market share in BC. The integration with Fobi enables Fobi & Barnet to provide liquor retailers with real-time shopping data, including SKU (product), loyalty and transaction data. The integration also enables end-to-end measurement and analysis enabling customer acquisition, customer segmentation, retail and brand marketing activation and the holy grail of real-time marketing attribution. In addition, Fobi’s real-time insight and analytic forecasting functionality utilize machine learning to help retailers and brand manufacturers with supply and demand chain challenges.
Nick Ricci, President of Barnet Technologies stated, “We have worked first-hand with Fobi for quite some time now and we have had the opportunity to witness first-hand the robust functionality and the value of which the FDX (Fobi Data Exchange) provides to data aggregators. Add to this the fact of FOBI’s key existing strategic alliance relationships with leading data aggregation companies such as NielsenIQ and it was a no brainer for us to enter into a multi-year exclusive data agreement with Fobi. We look forward to continuing to provide tremendous value over the next three years to all industry stakeholders in the alcohol beverage and cannabis industries.”
Fobi has begun negotiations with numerous brand manufacturers and interested third-party data aggregation companies who are looking for access to real-time store-level data at scale. Fobi delivers measurement and analysis to brand manufacturers looking for valuable insights such as price trends and visibility into the competitive landscape of key regulated markets, such as liquor retail and cannabis. This type of data is very difficult to generate at scale from the fragmented independent liquor and cannabis retail environment which has hundreds of different POS systems.
The agreement will also provide further value over and above the company’s previous announcements for the digital liquor loyalty and marketing platform, including Fobi’s BevyPass solution. Ultimately, this integration and licensing agreement will provide CPG manufacturers with marketing attribution, campaign analysis, detailed customer segmentation insights, and provide other key data points that will help them improve their overall operational efficiency and profitability.
Fobi CEO Rob Anson stated, “This agreement signifies the confidence of which Barnet Technologies not only has in our technical capabilities but our ability to execute together on monetizing the alcoholic beverage industry.
By way of signing this exclusive agreement with Barnet Technologies, we have now successfully locked down the key B.C. and Alberta liquor retail marketplaces. We are now focused on replicating the same successful model across the other key Canadian provinces before the end of 2022.“
About Barnet Technologies Barnet is an information technology company, which provides complete Management Systems, including hardware and software solutions based on the latest, cutting-edge technology, strong support, consulting, and customization abilities. The Company has over 25 years of history in Sales & Inventory Management Systems and Software Development. Barnet focuses on Point Of Sale (POS), Management, Inventory Control, and Customer Loyalty Systems for regulated industries.
About Fobi Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
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